I see Qs in a downward trend with 3 week cycles that are getting narrower.
Projecting out into 2021, I think Sept-Dec will show to be a bull flag, but we have some distance still down to travel before then.
Bounce point 1 off black support line and up to green resistance will confirm trend. If be break bounce 1, a bounce off of point 2 still confirms general, but could contradict consolidation and point toward a bigger downward movement.
I was sucked into the post election & vaccine euphoria and hoped we'd started a new up trend, but we stopped at the Green Descending channel line and are quickly reverting to prior 3 week downtrend.
We still have months before the Vaccine is widely available, and it's going to be ugly until then.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Projecting out into 2021, I think Sept-Dec will show to be a bull flag, but we have some distance still down to travel before then.
Bounce point 1 off black support line and up to green resistance will confirm trend. If be break bounce 1, a bounce off of point 2 still confirms general, but could contradict consolidation and point toward a bigger downward movement.
I was sucked into the post election & vaccine euphoria and hoped we'd started a new up trend, but we stopped at the Green Descending channel line and are quickly reverting to prior 3 week downtrend.
We still have months before the Vaccine is widely available, and it's going to be ugly until then.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
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Sadly I was wrong. Now we'll see if it tops at 292 and drops or breaks through. It'll be interesting to see if it does end up staying in a consolidation channel. Break out upward and hold the next day would be a great bull signal to me. Lost a fraction on SQQQ this morning, but quickly switched into TQQQ and doing well.註釋
Watching for 4 Key possible troubles spots on QQQ - 50/250 SMA X, MACD X, 294 price channel, RSI spike.註釋
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We turned sooner than expected, but look to have hit resistance at the trend line and headed down. 3 of 4 of yesterdays boxes checked. High RSI, MACDX, Top of Trend reached.
50/250 SMA has not crossed and still contra indicative for Bull movement.
註釋
Qs now getting squeezed between the 200SMA on 30 minute chart and the trend line. Bearish 50/250 cross, bearish RSI spike, 3rd rejection of trend line I think we keep consolidating in a very tight range and then a big directional move comes. Likely downward.
Tech bubble may have NASDAQ underperforming S&P500 for a while, if we do see confirmation with a big impulsive drop.
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We keep plodding along sideways and down sandwiched between the 50 & 250 SMA and the trend line. At some point we break one way or the other.
55% odds we go up, still over above the 50/250 SMA and they're still pointing up.
45% odds we drop, trend is down, and we're over the 2008-2012 uptrend line.
Keeping 90%+ on the sidelines for now until a clearer direction is shown.
Attempts to bet on the upside on UPRO and a rotation to SP500 have been losers.
QCLN and USD holding strong and rising overall. Individual manufacturer stocks have outperformed indexes lately (F, GE, BA).
註釋
Bounced earlier than expected on 200 Day MA. Now higher than the 9/2 top.Looks to be headed up.
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